cauldron deal

Anyone following this del? Correct me if I am wrong boys but Marree and lake frome is where Adavale has its concessions correct? Could our boys have something there and just missed the big one?


Cauldron cashed up and ready to explore

Claire Svircas
Tuesday, 10 November 2009

A TRADING halt has been lifted on Cauldron Energy with news it plans to undertake extensive exploration across its full suite of uranium assets in Argentina and Australia after securing $A10 million from strategic Chinese investors.



The investment has been made by Chinese industrialists Qui Derong and Qui Dekang, principals of Shanghai Yizhao Investment Group.

The funds will be injected in two tranches including a $7 million convertible note facility and a further $3 million via a placement of 6 million shares at 50c per share.

Qui Derong has since been appointed a non-executive director of Cauldron.

Cauldron controls more than 17,000 square kilometres of uranium prospective tenements across three states in Australia and two large projects in Argentina.

The Australian assets include the Yanrey project in Western Australia which hosts the Bennet Well deposit with an initial resource of 4.8 million pounds of uranium, the Marree, Lake Frome and Amadeus projects in South Australia, and the Eclipse project in the Northern Territory.

In Argentina the company holds the Rio Colorado uranium-copper-silver project and the Las Marias project.

Cauldron expects to have drilling rigs operating at all major projects by the first quarter of 2010.

Cauldron Energy, created by the merger of Jackson Minerals and Scimitar Resources, was today trading up 6.5c or 13.7% to 54c.

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